A recent study by ECA International shows that expats are finding Chinese cities expensive places to live these days.
Chinese cities now dominate the list of the most expensive places in Asia for expatriate residents due in part to a stronger local currency, a regional survey showed Wednesday.
Of the top 50 most expensive cities in the region, 16, or 32%, are from China, according to the survey by human resource firm ECA International.
Beijing is Asia’s fifth most expensive city, coming after four Japanese cities and followed by Seoul. Last year Beijing was seventh.
Worldwide, the Chinese capital was in 22nd place, up from number 35.
The rise on the list by the Chinese cities is a rise in the costs for products and services evaluated in the study, and an increase in the value of the yuan (China’s currency). What thoughts do you have as to why the costs of goods are rising, and why has the value of the currency gone up over the course of the last year?
The value of the U.S. dollar is dropping; ergo, the value of the Yuan is rising.